850 West End — Morehouse & Spelman

Two storied institutions, one transformative project

Morehouse College and Spelman College — neighbors in Atlanta's historic West End and two of the nation's most distinguished HBCUs — joined forces to address a shared need for modern student housing. Through West End Avenue P3, LLC, a joint venture between the two colleges, they entered a 50-year lease agreement with Madrone's project entity to bring the development to life.

Located at 850 West End Avenue near both campuses, the community will deliver 793 beds across 305 apartment-style units — including studio, one-, two-, and four-bedroom configurations — with amenities designed for student life: a 24/7 staffed lobby, fitness room, study rooms, lounges on every floor, a central green space, outdoor recreation areas, bike storage, and a dog run.

The structure

Financing closed on July 1, 2026 with the sale of $146.8 million in tax-exempt and taxable bonds issued by the Development Authority of Fulton County. Bond proceeds were loaned to Madrone-MS Student Housing LLC, a single-purpose subsidiary of Madrone Community Development Foundation, which owns the project on behalf of its charitable mission.

Radnor Property Group is the lead development partner, with construction led by a joint venture of Clark Construction and Atlanta-based C.D. Moody Construction, architecture by Moody Nolan — the nation's largest African American-owned architecture firm — and civil engineering by Pape-Dawson.

Highlights

• 793 beds in 305 apartment-style units serving Morehouse and Spelman students
• $147 million combined development — one of the largest HBCU student housing financings to date
• $146.8 million in bonds issued by the Development Authority of Fulton County; closed July 1, 2026
• 50-year lease with West End Avenue P3, LLC, a Morehouse-Spelman joint venture
• Nonprofit ownership through Madrone-MS Student Housing LLC
• Occupancy expected for Fall 2028